Penny stocks under Rs 100: These micro-cap companies are likely to invest overseas in Sri Lanka!

The shares of the company have a PE of 4.69x and gave multibagger returns of over 300 per cent in 3 years.

On BSE, two micro-cap companies, Bhagyanagar India Ltd and Surana Solar Limited subsidiaries of Surana Group announced that the Board of Directors of the Company is scheduled on Friday, August 25, 2023 inter-alia to consider and approve the following:

To approve overseas investment/acquisition in Srilanka either by way of equity or loan or both.

2. Approval of slump sale of copper business undertaking, to Bhagyanagar Copper Private Limited, wholly owned subsidiary of Bhagyanagar India Ltd.

3) Appointment of Shri Srinagesh Boorugu (DIN-00929331) as an Independent Director of the company.

Bhagyanagar India Ltd. is engaged in the manufacturing of copper and other copper products and alloys. The company is also in the business of wind power generation. The company has a market cap of Rs over Rs 220 crore. Today, shares of the company surged 0.77 per cent to Rs 69.54 per share with an intraday high of Rs 72.94 and an intraday low of Rs 69.50. The shares of the company have a PE of 4.69x and gave multibagger returns of over 300 per cent in 3 years.

Surana Solar Limited is engaged in the business of manufacturing solar photovoltaic modules, generation of wind & solar power energy and trading of other solar-related products. It is also into EPC of Power Projects on a turnkey basis on the MW scale. Today, shares of the company surged 0.12 per cent to Rs 24.10 per share with an intraday high of Rs 25.20 and an intraday low of Rs 24. The stock is up by 92 per cent in 2 years and gave multibagger returns of over 220 per cent in 3 years.

Investors should keep an eye on these Penny Stocks.

Disclaimer: The article is for informational purposes only and not investment advice.